Ativy

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IVY - The Future of Cryptocurrency Trading: Artificial Intelligence and Blockchain in Operation

আইভিওয়াই - ক্রিপ্টোকারেন্সি ট্রেডিংয়ের ভবিষ্যত: অপারেশনে কৃত্রিম বুদ্ধিমত্তা এবং ব্লকচেইন

IVY – Die Zukunft des Kryptowährungshandels: Künstliche Intelligenz und Blockchain im Einsatz

IVY - El futuro del comercio de criptomonedas: inteligencia artificial y blockchain en funcionamiento

IVY - L'avenir du trading de crypto-monnaie : l'intelligence artificielle et la blockchain en opération

IVY - क्रिप्टोकरेंसी ट्रेडिंग का भविष्य: संचालन में आर्टिफिशियल इंटेलिजेंस और ब्लॉकचेन

IVY - 暗号通貨取引の未来: 運用中の人工知能とブロックチェーン

IVY - 암호화폐 거래의 미래: 인공지능과 블록체인 운영

IVY - O Futuro da Negociação de Criptomoedas: Inteligência Artificial e Blockchain em Operação

IVY - Будущее торговли криптовалютой: искусственный интеллект и блокчейн в действии

IVY - Kripto Para Ticaretinin Geleceği: Yapay Zeka ve Operasyondaki Blockchain

IVY - Tương lai của giao dịch tiền điện tử: Trí tuệ nhân tạo và Blockchain trong vận hành

IVY - 加密货币交易的未来：人工智能和区块链的运作

Veteran American journalist Ivy McLemore is the author of a thought-provoking, 382-page long book offering a detailed account of his search for, and the probable discovery of, Satoshi Nakamoto, the mysterious inventor of Bitcoin. The Real Story Behind Mysterious Bitcoin Creator Satoshi Nakamoto, Ivy and I sat down to discuss his book’s proposition and the mysteries surrounding the identity of Satoshi Nakamoto. Read on! Thank you, Ivy, for showing up for this interview. Can you briefly tell us about yourself? I was raised in newsrooms. My father worked 42 years for The Associated Press. I became an AP correspondent at the age of 16. After graduating with a BA in journalism from the University of Houston, I developed my interview and investigative skills during 14 years as an award-winning reporter and executive editor with The Houston Post. After leaving the newspaper business, I was senior director of corporate communications for AIM Investments, one of the world's leading independent investment management firms and the top-performing mutual fund company of the 1990s, as ranked by Barron’s. 0 years at AIM and its successor Invesco, I was responsible for media relations, internal communications, business continuity communications, executive communications, fund shareholder relations, media training, and assignments in marketing and advertising. In 2 I was appointed to a five-year term as chair of the Investment Company Institute’s Public Communications Committee for his strategic counsel on crisis communications for the US mutual fund industry during the 2003–2004 mutual fund scandals. The ICI’s Board of Governors unanimously asked me to extend my term for an unprecedented sixth year after leaving Invesco, I was managing director of brand marketing and communications at Guggenheim Partners in New York. I frequently worked with Guggenheim Chief Investment Officer Scott Minerd, who I considered the most intuitive investor I’ve ever met, and who was the first person I told outside my office that I had found Satoshi Nakamoto. In 2018, I moved one block away from Guggenheim’s New York offices on Madison Avenue and founded Ivy McLemore & Associates, a marketing and PR firm. I have counseled and media-trained hundreds of executives and investment professionals. Hall of Fame pitcher and all-time career strikeout leader Nolan Ryan called me the best writer who covered him during his 27-year career. I became an official scorer for Major League Baseball at the age of 19, a position I held in five different decades, and I voted in 29 consecutive annual ballots for the Baseball Hall of Fame. My LinkedIn profile lists more than 990 endorsements from colleagues in 49 different communications skill. I wrote as a special project for Ted Bauer, whose $40 million gift in 2000 established the University of Houston’s C. T. Bauer College of Business. People Are The Product: A History of AIM In your book, Finding Satoshi, you described Bitcoin as the gateway to a new era of global finance. Does Satoshi consider Bitcoin a tool for economic singularity? No, not at all! You pointed out two spectacular events, the Mt. Gox hack and the Ross Ulbricht arrest, as the earliest blows to Bitcoin’s reputation. Does this surmise that Bitcoin is inherently flawed? In 2019, Satoshi told me the purpose of his life after a very serious back operation and his own contemplated suicide. He said he wanted to give the world a better version of Bitcoin, one that is not victimized by “money monsters.” Mt. Gox was a security hack because insufficient capital had been spent on security for clients’ accounts. And, Ross Ulbricht’s development of the Silk Road was not a Bitcoin problem; it was a criminal act. FTX is not a case of a Bitcoin problem; it is a case of insufficient compliance safeguards in place to protect clients from alleged fraudster Sam Bankman-Fried. I recently interviewed Craig Wright about his claims to Satoshi Nakamoto's throne. While there's no conclusive evidence yet, do you think Craig is Satoshi? My book gave Craig Steven Wright the benefit of a doubt, but 99% of the evidence in the book makes it clear he is not Satoshi Nakamoto. I am now 100% sure Wright is not Satoshi; he’s the George Santos of Bitcoin, a serial falsifier. In my conversations with Satoshi, he often referred to Wright as a muppet, which is British slang for a stupid person. Finding Satoshi Craig Wright is no more Satoshi Nakamoto than I am a gold medalist in both the pole vault and the 100 meters at the 2024 Summer Olympics in Paris. What is your major takeaway from the Bitcoin Trial of The Century involving Craig and Dave Kleiman's estate? It’s hardly the Bitcoin Trial of the Century. It proved nothing about Satoshi Nakamoto’s true identity or anything about the Tulip Trust or Bitcoin and left Wright owing $100 million to the Kleiman estate, which mushroomed to $143 million months later. Has Wright paid any of it? Not that I’ve seen. The Kleiman family should be happy they’re getting anything since Wright and Dave Kleiman had nothing to do with the creation of Bitcoin. Did you rule out The Genesis Block and the time stamp evidence in your investigation? I didn’t rule out the Genesis Block in my investigation. In fact, when Satoshi and I met for the first time in Manchester, England in July 2019, he told me, “On January 3, 2009, I looked at The Times newspaper and saw the headline that I hinted at in the Genesis Block code.” The fact Satoshi used that headline that only appeared in England print editions of The Times that day and not online, was among the major pieces of evidence that Satoshi lived in England when he created Bitcoin. My book and Episode 3 of my weekly Solving Bitcoin’s Biggest Mystery Podcast has more info. Finding Satoshi As far as timestamps are concerned, I maintain that all timestamp evidence of any kind in every case is inadmissible because timestamps are easily falsified or manipulated. One of Bitcoin’s early developers, Jim Blasko, told me in an interview that Satoshi Nakamoto is a group of anonymous people. I dare you to disagree with him. Dare accepted! Blasko said in October 2022 that he recovered the original code by doing some light browser hacking. Blasko might have said Satoshi is a group of anonymous people because he had no facts whatsoever that would prove Satoshi’s identity. I suggest Blasko read my book and listen to my podcasts, after which I’ll meet him at any place at any time to debate my many facts against his futile supposition. You have a long, impressive list of Satoshi suspects or potential candidates if you like. Who among them is the most credible and why? Chapters 3, 4, 5, 6, and 7 of Finding Satoshi tell why the 40+ suspects identified since Bitcoin’s creation in 2009 - including Hal Finney, Dorian Satoshi Nakamoto, Nick Szabo, and the George Santos of Bitcoin (Craig Wright) - are NOT Satoshi Nakamoto. The real Satoshi Nakamoto is a native of Pakistan who immigrated to England before he created Bitcoin and whose name and photo can be found in my book . One interesting fact, however, is that Hal Finney had more to do with the creation of Bitcoin than many others have. Finding Satoshi Satoshi’s writing style being frankly British is consistent with what you were told about his possible British origin. Can you elaborate more on what you believe? Episode 8 of the Solving Bitcoin’s Biggest Mystery Podcast (available on Spotify and most major platforms) will address what Satoshi described to me as “writing in Satoshi mode.” Here’s a sneak preview of one image of a few examples that will be posted in the transcript for Episode 8, which will be posted on March 28 and available on . www.findingsatoshibook.com Sysres was the anonymous individual - perhaps Satoshi himself - who communicated with me on Satoshi’s behalf only on Skype texts in May-June 2019. Itstark is the Skype name Satoshi used in his communications with me over seven months. The three words that best describe the Satoshi Nakamoto I know are shy, secretive, and sincere, which is the focus of Episode 6 of the Solving Bitcoin’s Biggest Mystery Podcast, to be posted on March 14. Any parting words? Simple! When it comes to the identity of Bitcoin creator Satoshi Nakamoto – either accept the long-awaited truth and forego the twin evils of amateur speculation and unfounded opinion … . or prove me wrong

Bitcoin Creator is a Pakistani Native: Ivy McLemore, Author of Finding Satoshi

A Portrait of the Hacker as a Young Man

Un retrato del hacker cuando era joven

Un portrait du hacker en jeune homme

यंग मैन के रूप में हैकर का एक पोर्ट्रेट

若者としてのハッカーの肖像

Um retrato do hacker quando jovem

Chân dung Hacker khi còn trẻ

青年黑客的写照

In 2021, hosted the first-ever awards!! HackerNoon Startup of the Year The goal of this campaign was to give recognition to the hardworking startups who pulled through the pandemic -- growing and thriving (despite all of the challenges). More than 44,000 startups were nominated all across the globe! They were selected from over 4,553 cities, with a total number of * cough * “4 billion” votes. Insane, right? To see who is a winner in each respective city, visit and pick a city. The name at the top of the list is the winner. (Awards, with compromised reviews, are under review.) startups.hackernoon.com The will announce the winners per region in their respective cities. Startups Winners Announcement Series Apparently, South America startups did incredibly well in that regard. With so many, until now, uncrowned jewels, it’s time we present to you... * drumroll* 🥳 The South America Startups of the Year Winners! Santiago, Chile Chile is known for being the most stable country to do business in Latin America, ranking 13th in The Economist’s Business Environment Index. Moreover, according to the Global Innovation Index, Chile ranks first in Latin America for innovation and is recognised as Chilean Silicon Valley with Santiago being the central city. The winner is…. QCObjects It is the 1st world class open-source framework made in Latin-America. São Paulo, Brazil And the winner of Brazil’s vibrant financial center is... Innvo Digital Their mission is to create the best ecosystem for a technology professional to work and undertake while sharing it with our customers and society. São Carlos The absolute leader of Sao Carlos seems to be: Predify Predify is an online software for optimizing pricing proccess and improving profits with AI and Big Data Analytics. Belo Horizonte, Brazil With a more than noble goal, Belo Horizone’s winner is: CM Tecnologia CM Tecnologia is an online scheduling system for healthcare providers in Brazil. Porto Alegre, Brazil With the focus on data protection, Porto Alegre, Brazil’s winner is…. Privacy Tools Privacy compliance platform, based on AI/Blockchain, which helps global companies to keep compliant with the data protection requirements. Brasil, Brazil With the focus on EdTech, Brasil is bringing us: Awari Awari is a YC-W21 company focusing on education for the Tech Industry. The company is growing at a fast pace and has gathered experts from all leading tech companies into a full education experience to prepare the next cohort of tech talent. Quito The capital of Ecuador, and also the closest capital to the actual equator, as the winner brings us: Agrodemanda The most comprehensive agricultural directory in Ecuador. Rio De Janeiro, Brazil Rio de Janeiro has more than 300 startups and is ranked 3rd in Brazil in terms of startup ecosystem development. The city is famous for the startups in the spheres of education, energy & environment and foodtech. Their winner is…. Bybrand Bybrand is the simplest way to save time and avoid frustration when managing your employee's email signatures. Buenos Aires, Argentina Buenos Aires, Argentina is not only the cosmopolitan capital with a vibrant history. It’s also Latin America’s most important port. Which makes their winner actually a very logical choice. Please meet: Liftit Liftit is the leading technology platform to automate and execute last-mile truck deliveries across Latin America. Curitiba, Brazil With a more noble mission and sustainability in mind, Curitiba, Brazil, as the winner brings us... Discrepante is the marketplace for a more human and sustainable economy Discrepante.com Florianópolis, Brazil Would you really be surprised one of the Brazil’s winners is related to football training? We neither. Please meet... Fútbol Fit Club Football FitClub® is a fitness training firm that gives fitness training to improve like a professional football player. Medellín, Colombia And the first Colombian Startup Winner is is a data intelligence solution powered by a high quality team. Meet... LogComex Market intelligence for international trade in Latin America Montevideo, Uruguay The host of inaugural FIFA world cup of 1930 comes through when it comes to innovation even in 2021. I’d like to introduce you to: Drop Technologies First electronic hand antiperspirant device Lima, Peru Lima, Peru, has in 2021 delivered some amazing results when it comes to blockchain technology. Their winner is very well deserved: RSK Labs RSK is the first open-source smart contract platform São Carlos Do Pinhal Well this is a unique case. The absolute unanimous winner of São Carlos Do Pinhal is: brain4care brain4care solution enables monitoring intracranial compliance noninvasively anywhere Blumenau, Brazil We’re sensing a theme here. Another stellar EdTech winner is coming from Blumenau, Brazil. Please meet... Uniasselvi Uniasselvi is a Brazilian distance-learning company that offers more than 60 undergraduate and postgraduate courses, in person and distance. Bogotá, Colombia Startups of Bogotá, Colombia definitely showed they’re not to be underestimated. With a very noble mission, let me introduce you to: Risü Risü is an online platform that links online consumption to donation to social institutions. Campina, Brazil If there’s one typo of business we’d single out as taking the biggest hit out of the pandemic, it would have to be small businesses. Thankfully, the winner of Campina, Brazil, operates with small businesses in mind Superlógica Tecnologias Ltda. Superlogica is a management system company created for small service businesses. Cerqueira César, Brazil Swooping half the points from the entire City, this year’s winners of Cerqueira César are InfoPrice INFOPRICE is a business intelligence company focused on physical retail pricing. Governador Valadares, Brazil The same can be said for the winners here. Let’s hear it for: Grupo KPG Saas, Payment, Manufacture, Pharmaceutical, E-commerce, Marketplace, Logistics Caxias Do Sul Known for wine making and Italian cultural influence, Caxias Do Sul brings as an interesting winner. Studio 360 Studio 360 is a proptech focused on easing the purchase experience for real state companies, brokers, and costumers. Sorocaba From Sorocaba, we have an interesting concept coming. Looking forward to seeing it further develop. Let’s meet: Quinto Quinto is a social network that represents the collective opinion of society—to help democracy evolve through technology Viña Del Mar To be a venue-oriented business and survive through the pandemic definitely deserves some recognition. In the name of that, let’s meet: SonicPollen SonicPollen, based in Chile, is a web-based booking platform that connects bands with venues and organizers. Lages Learn more about high-growth startups in Lages, South America. and the winner is…. Qualiall Qualiall develops technologies for training in operational processes such as work security, equipment maintenance, and more. Córdoba, Argentina Another gem from Argentina brings us unique agricultural solutions. Please meet: Kilimo Kilimo is a Big Data solution for water management in agriculture. São José Dos Campos, Brazil Another great agricultural solution comes this time from Brasil. Meet São José Dos Campos Startup winner: TerraMagna TerraMagna is a fintech company that focuses on risk mitigation for agribusinesses. São Leopoldo, Brazil Event-oriented businesses that have survived in the previous years should definitely bottle their perseverance and start selling it. One of those is definitely this winner: Wedy Wedy offers a one-stop-social marketplace for weddings. Pelotas, Brazil Medical scheduling platforms are definitely something we need to see more of. So glad Pelotos winner comes from this particular niche. Fácil Consulta Fácil Consulta is a booking platform that allows people to schedule an appointment with a Specialist Physician in their area. Santa Maria Could you believe how versatile the startups of South America are when we are only now coming across a game development studio? Let’s meet them Imgnation Studios Imgnation Studios is a game development studio that focuses on virtual reality. Asunción, Paraguay A FinTech solution coming from Paraguay. Meet Asunción Startup of the Year winner Vision Banco Vision Banco is a solid and growing financial institution serving the financial needs of the micro, small and medium enterprises. Caracas Venezualan food delivery app that seemed to have your heart. Meet Caracas Startup of the Year winner Yummy Inc. First Food Delivery App in Venezuela Recife A suitable combo between gaming and education, Recife Startup of the Year winner brings revolutionary solutions. Let’s meet them. Joy Street Joy Street offers develops video games focused on educational needs. Rosario, Argentina The winner of Rosario Startup of the Year award for 2021 is... Gbot Gbot is an autonomous robot that controls weeds without using agrochemicals. We also collect data in fields and generate precision maps. Vila Olímpia, Brazil The winner of Vila Olímpia Startup of the Year award for 2021 is... Seekr Seekr operates in the Information Technology sector, providing tools for managing and monitoring of brands. Barueri The winner of Barueri Startup of the Year award for 2021 is.... Glic Brazilian mhealth (web/app) platform for diabetes management Brasília The winner of Brasília Startup of the Year award for 2021 is... Ticies Ticies is a social network that helps people plan where to go with their friends, relatives and acquaintances, in all cities of the world. Juiz De Fora The winner of Juiz De Fora Startup of the Year award for 2021 is... Qranio Qranio is a gamified mobile learning platform for enterprises that rewards learning and stimulates users to engage with educational content. La Paz The winner of La Paz Startup of the Year award for 2021 is... Jukumari Advice 360 photo based market place for responsible tour operators Temuco The winner of Temuco Startup of the Year award for 2021 is... GoFeels GoFeels is the first independent hospitality network in the world. We promote collaborative work among hotels around the world. Vitacura The winner of Vitacura Startup of the Year award for 2021 is... MeatMe MeatMe delivers meats and accessories to have a culinary experience. Barranquilla The winner of Barranquilla Startup of the Year award for 2021 is... Mandaos Mandaos is a digital platform that connects companies and people with a network of independent messengers Ceará The winner of Ceará Startup of the Year award for 2021 is... Caroá Caroá is a cooperative that sells 34 varieties of vegetables, organic fruits, and vegetables. Chapecó The winner of Chapecó Startup of the Year award for 2021 is... HortiAgro HortiAgro is a seed and fertilizer market. Chile Chico The winner of Chile Chico Startup of the Year award for 2021 is... Gleengo Gleengo connects children with their favorite toys, through a tiny device and an application based on text-to-voice. Goiânia The winner of Goiânia Startup of the Year award for 2021 is... Auvo Auvo is an external teams management software. Itá The winner of Itá Startup of the Year award for 2021 is... TISSUELAB Tissuelab is a research and development center focused on biotechnology, and systems for reconstructive musculoskeletal surgery. Jardim Paulista The winner of Jardim Paulista Startup of the Year award for 2021 is... DiviCom DiviCom is a digital video networking company that designs, integrates, and markets complete systems. João Pessoa The winner of João Pessoa Startup of the Year award for 2021 is... YupiPlay YupiPlay develops and offers an educational gaming platform. La Reina The winner of La Reina Startup of the Year award for 2021 is... INTI-TECH INTI-TECH is the fastest growing renewable energy in Chile and the world's leading unconventional source. Leme The winner of Leme Startup of the Year award for 2021 is... EcoStart EcoStart focuses on manufacturing sustainable electric bicycles, fans, and accessories. Loja The winner of Loja Startup of the Year award for 2021 is... Enerwi Corporation Keeping people connected and secured through wireless charging novel solutions Manizales The winner of Manizales Startup of the Year award for 2021 is... Porter Metrics Porter Metrics has developed an automated solution for generating social media reports in minutes. Nova Lima The winner of Nova Lima Startup of the Year award for 2021 is... Biomimetic Solutions Biomimetic Solutions is an innovative tissue engineering company. Paraná The winner of Paraná Startup of the Year award for 2021 is... Laura Laura is a provider of artificial intelligence and predictive analytics platform for hospitala and clinics to prevent damage & reduce costs. Salvador The winner of Salvador Startup of the Year award for 2021 is... Sanar Sanar is a platform that focuses on being the doctor's guide and support, offering specialized content that helps in their development. Santa Catarina The winner of Santa Catarina Startup of the Year award for 2021 is... DrPOCKET Sunchales The winner of Sunchales Startup of the Year award for 2021 is... Eolo Pharma Eolo Pharma focuses on developing drugs targeting the molecular and cellular basis of inflammation-related diseases Valparaiso The winner of Valparaiso Startup of the Year award for 2021 is... Invitta Invitta transforms plastic waste into a high-performance construction material for manufacturing sustainable urban furniture. Vila Velha The winner of Vila Velha Startup of the Year award for 2021 is... OneGrid OneGrid is a developer of hardware and software solutions focused on energy management. Indaiatuba The winner of Indaiatuba Startup of the Year award for 2021 is... DWUL Energy Renewable Energy Campinas, Brazil The winner of Campinas Startup of the Year award for 2021 is... Ativy Ativy is an IT company specialized in cloud computing, data centers, IT outsourcing, service desk, and IT management. Las Condes, Chile The winner of Las Condes Startup of the Year award for 2021 is... # MuvPass Subscription services that allows it's users unlimited access to fitness classes in the best gyms and studios in Latin America. Pinheiros, Brazil The winner of Pinheiros Startup of the Year award for 2021 is... GuiaBolso GuiaBolso is a personal finance platform that empowers people to take control of financial well-being. Rio, Brazil The winner of Rio Startup of the Year award for 2021 is... EmCasa EmCasa is a vertically-integrated platform that helps customers buy and sell a home in Latin America, starting in Brazil. Guayaquil The winner of Guayaquil Startup of the Year award for 2021 is... Sabroso Online platform for LatAm's enterprises to order low-cost meals Jundiaí The winner of Jundiaí Startup of the Year award for 2021 is... Sintecsys Sintecsys offers a fast and effective detection, reducing losses and costs with fire brigades. Minas Gerais The winner of Minas Gerais Startup of the Year award for 2021 is... Rizoflora Biotechnology Rizoflora Biotechnology is a producer of biological product designed for nematodes control. São Caetano Do Sul The winner of São Caetano Do Sul Startup of the Year award for 2021 is... Wevo 1 iPaaS in Latam - Enabling companies to be truly digital companies with APIs, systems and data integrated into a single platform Canoas The winner of Canoas Startup of the Year award for 2021 is... ContaÁgil ContaÁgil facilitates and reduces bureaucracy in accounting routines of companies. Chile The winner of Chile Startup of the Year award for 2021 is... Unight Unight is the future of nightlife social media. Israelândia The winner of Israelândia Startup of the Year award for 2021 is... Matchpool Matchpool is a platform that creates human connections. La Plata The winner of La Plata Startup of the Year award for 2021 is... Pixivus Pixivus offers a community-based application that enables its users to collect, store, and share pictures of events. Novo Hamburgo The winner of Novo Hamburgo Startup of the Year award for 2021 is... Devorando Devorando offers an online food ordering system and menus available in restaurants based in Brazil. Pernambuco The winner of Pernambuco Startup of the Year award for 2021 is... Redu Redu is a distant learning platform which is built on a social networking structure. Providencia The winner of Providencia Startup of the Year award for 2021 is... # TrainFES TrainFES is a medical Devices for the rehabilitation of people with paralysis. Ribeirão Prêto The winner of Ribeirão Prêto Startup of the Year award for 2021 is... AllyHub Ally is a sales distribution channel technology that connects Schools and Service Providers with Education Agencies. Santa Cruz De La Sierra The winner of Santa Cruz De La Sierra Startup of the Year award for 2021 is... Mobi Latam Mobi Latam is a clean energy startup that focuses on transportation systems based on electric mobility. Santana De Parnaíba The winner of Santana De Parnaíba Startup of the Year award for 2021 is... MercadoLivre.com is an e-commerce technology company providing solutions to individuals and companies buying, selling, and more online. MercandoLivre.com More Information If you’re a winner, please answer ! If you’re a reader, participant, just a curious individual, consider answering one of our interviews . this interview here Read the FAQs about or . Startups here here To see all of the winners you may visit , pick any city and view the name that appears at the top. this site If you’re interested in partnering with us, we invite you to look through some of these or reach out to our business department. unique sponsorship options Perhaps creating your very own tickles your fancy or maybe you have a whole new idea for how we can partner! writing contest Thank you to all of our sponsors! We truly appreciate your contribution to the tech world and thus the future! The Startups Awards are sponsored by: , , , , , , , , , , Blockster Brex FreeCodeCamp LaunchDarkly Coil Udacity Udemy Vercel Asia Pacific Transgender Network Bybit Everscale Network This post was written/compiled by Shreya Kundu and Katarina Andrejević! If you have any questions or concerns or would like to report a discrepancy please email ellen@hackernoon.com.

Meet the Winners of Startups in South America

How many chats on your phone are discussing where the Bitcoin price is heading right now? Even if you only touch the crypto industry with your left pinky, the Bitcoin price talk is hard to miss. Add to this the stories about someone who always seems to forecast the price right. A friend of a friend who moved to Bali and now makes a ton of money by trading straight out of his pool. The wizard sees in the price charts what others don’t see and makes profits when the markets are good, bad, and even ugly. Trading appeals by its promise of independence - do it from anywhere you want and whenever you want. Margin trading (the use of leverage) adds an extra edge - you can go big starting with little. With the magnitude of Bitcoin price moves and the leverage available as high as 100x, it becomes hard to leave the potentials of cryptocurrency margin trading unnoticed, at least in theory. From the dream of securing the bag while living on an exotic island to an idea of becoming a cool cryptotrader - margin trading can be a magnet to a diverse group of people. Reserved to professionals in white pressed shirts in traditional markets, margin trading in cryptocurrencies is available to almost everyone. Though democratizing financial instruments is a nice step towards more open finance, there is a flip side of this availability - we jump into something new and then wing it until we figure out how things work later. The cost of this “winging” are losses that could have been avoided. This post about the risks of trading with leverage. If you are reading this, likely you understand that leverage works both ways. It can shoot your gains up on a rocketship and it can also eat your deposit like a hungry bodybuilder on a competition prep. What happens is determined by the direction of the price movement. is not But there are aspects of margin trading more nuanced than the formula for gains or losses. Most people do not think about them, until their deposit is liquidated. In this post, we’ll go through the key aspects of margin trading that can bite you (and your profits) hard unless you pay attention to them. Good news - each of those aspects starts with “ ”, and knowing them will help you avoid catching your own Ls in margin trading. Understanding them, you will be able to judge any margin trading platform more scrupulously than your girlfriend judges your ex. L So let’s dive in: Leverage - you’d say. That’s right, but let’s look deeper! Which instrument is this leverage provided with? “Oh, leverage I already know!” Not all margin trading platforms are created the same. Yet the type of instrument that provides the leverage on each platform affects a lot of things in your trading. The size of leverage is the simplest thing that differentiates them. For example, users trade perpetual futures on BitMEX. Options were recently added to OKEx. CEX.IO Broker offers margin trading based on CFDs (Contracts for Difference). All instruments are traded with leverage, but all are different and represent different rights and liabilities of the parties involved. More so, the type of instrument determines what . reference price your profit or loss is calculated against Here’s what it means: When you open a leveraged position with BitMEX futures - you buy from or sell to some other participant on this derivative market. Who those other participants - you don’t know. And there is no matching order of the same size that goes out to the spot market for execution. The gains and losses of your position are calculated against the price, which represents a on other exchanges. weighted average index of prices In contrast, when you place an order with CFDs on CEX.IO Broker, the Broker is an intermediary of every transaction. The Broker quotes you the best price at which it can execute your order on the spot market. So the quoted price, in this case, is not an index. It is rather a representation of the where the Broker fulfills your order. And it is in the Broker’s interest for the price to be representative of the market. Otherwise, nobody would use it. combined liquidity of exchanges Further on, leverage, by definition, means that positions you open are times larger than the amount of your own funds you use for those positions. Hence, leverage involves borrowing. What exactly you borrow is important. On some platforms, your borrowed capital equals the between the position size and your own funds. On other platforms, your own funds represent a collateral, and your borrowed capital equals the . difference entire size of the position So, in two different cases the financing fee is applied to a different amount. Hence, the cost of trading is different. Not to mention that the financing fee itself can vary, as does the frequency with which the financing fee is applied. So your leverage is more than the number before “x”, 3x, 10x, 100x. What instrument provides that leverage affects trading in multiple regards. So if you didn’t know, now you know! Moving on! Liquidity Liquidity is something a lot of people like talking about, but not many people know exactly what it means and why liquidity matters. In the context of trading, liquidity represents the “depth” of the market. And the depth means the volume of the working (currently active) limit orders on a platform within a narrow range around the market price. To put it simply, you can add 0.1% to and subtract 0.1% from the market price, and the value of all limit orders will represent your liquidity. falling into this price range A liquid orderbook means that even a big market order from a trader will be executed without a significant change from the price level at which it was placed. Lack of liquidity means that a tiny bit sizable order will move the price. It is called - when the price at which a market order was placed differs from the price at which the order was actually executed. A small slippage is fine and quite common. Significant slippage bites off a big piece of your potential profit. “slippage” Because there are various types of margin trading platforms (see above) - they can solve the liquidity issue differently. For example, on the spot market (e.g. Kraken margin trading) and futures market (e.g.BitMEX) the liquidity is provided by the participants of the specific market. The limit orders they place are precisely what forms the liquidity there. But a different setup is also possible. The liquidity can be supplied by other exchanges, liquidity providers, with whom the trading platform has agreements in place. For example, that’s the case with CEX.IO Broker. An order there is routed to one or a combination of liquidity providers for execution. Whether the liquidity is supplied by the market participants or by the liquidity providers, neither option is superior to the other. What’s important is to understand how liquidity works on a platform you are trading on. You don’t need an MBA from an Ivy League school for that - just need to know where to look. In the first case (liquidity is formed by the market participants) - the orderbook is your reflection of the liquidity situation. Significant order volume within a small range around the market price - great! Not too much - then expect slippages. In the second case (with liquidity providers) - sometimes the platforms are showing an oderbook formed by the consolidated liquidity from other exchanges. If so - then see the above. If not - only testing how your orders are executed on the platform will help you assess the liquidity. Note, however, that your own order size matters here. If you trade with the money you’ve saved up skipping the $13 salads for lunch - you got nothing to worry about. If you sold your car to go all in with 100x leverage (don’t do it!) - think twice! Big market orders can eat up the liquidity on a platform quickly and execute with big slippages. From slippages to wide spreads, typical to illiquid markets, liquidity on a trading platform is something that affects the cost of your trading and your resulting ROI. So instead of being enticed by the sexy features a platform offers, spend some time understanding the liquidity situation on it. Liquidity is the pulse of trading - check this pulse first so that you don’t end up playing on a dead market. Latency Latency is another aspect of trading, not apparent from the home page of a trading platform but affecting the quality of your experience of the market. Latency is a time interval (delay) between an instruction to send data and the delivery of that data. And now let’s put it simply: remember your conference calls with an office across the ocean? Your foreign colleague opens his mouth saying something and it takes time (forever) before you can hear him. That’s your latency. Now, closer to trading. Imagine Bitcoin is nosediving, but when the price updates on your screen - it is already at a different level in the market. Then you want to open a position at a good price, but when the system actually sends your order to the market, the price is no longer relevant. As a result, you either opened a position at a bad price (if that was a market order), or didn't open a position at all (with a limit order). In another scenario, your position simply gets liquidated, and you did not even have a chance to do anything about it. You get the idea. Latency happens because the little gnomes in computers can only spin the wheel with a limited speed. They spin the wheel to realize some logic - what data to send between the parts of the system, what price to show, how to execute an order, etc. But sometimes the speed of the gnomes’ spinning is inadequate relative to changes on the market. Add the fact that you are trading with leverage - and even a split of a second is enough to make you feel like you are losing control. With latency on the overseas conference calls or with a latency on your trading platform - you can get used to everything. Yet, well-trained gnomes who can spin fast are always better. What it depends on is the infrastructure quality and the logic behind the order execution. Both can be done poorly and over-complicated even on the prettiest of trading platforms. The problem is, you, as a user, cannot come to a trading platform with question. Some platforms tell users about their low or ultra low latency as their advantage. “What’s up with your gnomes?” But in practice, you can only verify that by using the platform. If trading reminds you of the dialup modem internet times - you got latency. In trading, especially in margin trading, this is unacceptable and impractical. Liquidation One way or another a scary liquidation touches every trader. Liquidation means a forced closure of a trader’s position. Why does a platform close a position without asking the trader? To manage the risks of potentially uncontrollable losses. Since a trader’s position is opened with leverage (hence, some of the capital is borrowed), a certain pre-specified minimum level of funds needs to be maintained on it at all times in order to keep the position open. If a position suffers losses, making the funds available to guarantee the open positions insufficient, and if a trader does nothing to remedy the situation (e.g. adds more funds or closes the money-losing positions) - the platform has to initiate liquidation. Nobody likes to suck up the losses, especially if the price bounces right back after your liquidation, a sure way to start believing in conspiracy theories! Yet liquidation itself - is a form of a payment for using the margin trading facilities per se. Many beginner traders think of liquidation as a bedtime scary story or a break time meme theme. Yet until they see zeros (or, better yet, minuses) on their trading account, they do not understand how liquidation works specifically on a platform they use. And that’s a process that can vary greatly from place to place. Respectable trading platforms provide detailed information about their liquidation process and warn a trader when the liquidation is nearing with margin calls. Others make liquidation akin to some sorcery that leaves you naked at the end. So you better not fool yourself that liquidation will never touch you. No matter how lucky you are or how savvy you get, understanding what initiates the liquidation and how it unfolds will always put you well ahead of your fellow traders (and save you a ton of money and hidden tears in process). is usually a metric in your trading account finances that crosses a certain threshold. For example, in CEX.IO Broker, this metric is Margin Level. The Marin Level needs to stay above a certain level, otherwise liquidation starts. For other platforms, indicators like liquidation price, maintenance margin will usually show you the right direction. Do not just learn which indicator you need to track, understand how it works, better than you understood your favorite subject at school! What initiates the liquidation is a question of whether the liquidation is partial or full. Partial liquidation closes just enough positions to restore the indicator mentioned above to a defined level. So some of your positions may still survive. Full liquidation - simply liquidates all your positions. Ouch. How liquidation unfolds Another important thing: The rollercoaster of price movements can lead to a situation when your deposit does not just liquidate to zero. You end up with a negative number on your account. Some platforms absorb the negative balances resulting from the liquidation (or guarantee that negative balances won’t happen). Others - don’t. You need to know this in advance. One thing is to cry over a liquidated deposit, another is to cry while having to hide from your creditors trying to collect your debt. And, of course, there is a cherry on top! Liquidation fee - ta-da! Oh yea, after all the sadistic pain you’ve been put through with the liquidation of your positions, some platforms (e.g. BitMEX) charge you a (sizable) liquidation fee. That fee goes to a fund which is supposed to guarantee that, after you are liquidated, you do not owe anything. Logically, the liquidation fee is charged at the moment of liquidation. Double ouch. We can talk a lot about liquidation. Or you can search some liquidation memes for the inspo. But instead of letting the liquidation spectacularly undress you in the most opportune moment, you are much better off making an effort to understand how it works on the platform before you use it. The dream, the nightmare, and the messy middle Leverage, Liquidity, Latency, and Liquidation are the terms that you will definitely come across in your margin trading. They all affect both your trading experience and your experience of the market in multiple ways. How these things are implemented can make trading on two similar-looking platforms feel like two different worlds. So get to know them. Trading is something that can potentially put you on an adventurous quest, professionally and personally. And with any quest, there is a dream that makes a hero to venture on a new path. Then there is a challenge - a nightmare of sorts - that can stop the hero from getting what he wants. And there is also a messy middle - not so apparent plot twists that all turn out to be key for a journey. Similarly, in trading, may be that dream of making it big straight out of a fabulous exotic location. - is that nightmare that will one day make you question your path. And and are both the things you may not notice at the beginning of your trip, but they will be there to trip you up midway. Know your dream, your nightmare, and your messy middle - and you are one good hero ready for your journey. leverage Liquidation liquidity latency

Margin Trading: What You Don't Think About Today Will Bite You Hard Tomorrow

Shingling in the Generative AI Era

Author:
(1) Yuki Koto Table of Links Abstract and Intro
Genus-zero Gromov-Witten Theory
Toric Bundles
Lagrangian cones of Toric bundles
Mirror theorem for a product of projectives bundles
Mirror Theorem for Toric Bundles
Appendix A. Equivariant Fourier Transformation and References Appendix A. Equivariant Fourier transformation Note that this is a straightforward generalization of [20, Conjecture 1.7]. References Dan Abramovich, Tom Graber, and Angelo Vistoli, Gromov-Witten theory of Deligne-Mumford stacks, Amer. J. Math. 130 (2008), no. 5, 1337–1398.


M. F. Atiyah and R. Bott, The moment map and equivariant cohomology, Topology 23 (1984), no. 1, 1–28.


K. Behrend, Gromov-Witten invariants in algebraic geometry, Invent. Math. 127 (1997), no. 3, 601–617.


Nicole Berline and Mich`ele Vergne, Classes caract´eristiques ´equivariantes. Formule de localisation en cohomologie ´equivariante, C. R. Acad. Sci. Paris S´er. I Math. 295 (1982), no. 9, 539–541.


Jeff Brown, Gromov-Witten invariants of toric fibrations, Int. Math. Res. Not. IMRN (2014), no. 19, 5437–5482.


Charles Cadman, Using stacks to impose tangency conditions on curves, Amer. J. Math. 129 (2007), no. 2, 405–427.


Tom Coates, Alessio Corti, Hiroshi Iritani, and Hsian-Hua Tseng, Computing genus-zero twisted GromovWitten invariants, Duke Math. J. 147 (2009), no. 3, 377–438.


_________, A mirror theorem for toric stacks, Compos. Math. 151 (2015), no. 10, 1878–1912.


Tom Coates and Alexander Givental, Quantum Riemann-Roch, Lefschetz and Serre, Ann. of Math. (2) 165 (2007), no. 1, 15–53.


Artur Elezi, A mirror conjecture for projective bundles, Int. Math. Res. Not. (2005), no. 55, 3445–3458.


Honglu Fan and Yuan-Pin Lee, On Gromov-Witten theory of projective bundles, Michigan Math. J. 69 (2020), no. 1, 153–178.


William Fulton, Intersection theory, second ed., Ergebnisse der Mathematik und ihrer Grenzgebiete. 3. Folge. A Series of Modern Surveys in Mathematics [Results in Mathematics and Related Areas. 3rd Series. A Series of Modern Surveys in Mathematics], vol. 2, Springer-Verlag, Berlin, 1998.


Alexander Givental, A mirror theorem for toric complete intersections, Topological field theory, primitive forms and related topics (Kyoto, 1996), Progr. Math., vol. 160, Birkh¨auser Boston, Boston, MA, 1998, pp. 141–175.


Alexander B. Givental, Symplectic geometry of Frobenius structures, Frobenius manifolds, Aspects Math., vol. E36, Friedr. Vieweg, Wiesbaden, 2004, pp. 91–112.


T. Graber and R. Pandharipande, Localization of virtual classes, Invent. Math. 135 (1999), no. 2, 487–518.


Tam´as Hausel and Bernd Sturmfels, Toric hyperK¨ahler varieties, Doc. Math. 7 (2002), 495–534.


Hiroshi Iritani, An integral structure in quantum cohomology and mirror symmetry for toric orbifolds, Adv. Math. 222 (2009), no. 3, 1016–1079.


_________, Quantum cohomology and periods, Ann. Inst. Fourier (Grenoble) 61 (2011), no. 7, 2909–2958.


_________, Shift operators and toric mirror theorem, Geom. Topol. 21 (2017), no. 1, 315–343.


Hiroshi Iritani, Quantum cohomology of blowups, 2023.


Hiroshi Iritani and Yuki Koto, Quantum cohomology of projective bundles, 2023, arXiv:2307.03696 [math.AG].


Hiroshi Iritani and Fumihiko Sanda, private communication.


Yunfeng Jiang, Hsian-Hua Tseng, and Fenglong You, The quantum orbifold cohomology of toric stack bundles, Lett. Math. Phys. 107 (2017), no. 3, 439–465.


Bumsig Kim, Andrew Kresch, and Tony Pantev, Functoriality in intersection theory and a conjecture of Cox, Katz, and Lee, J. Pure Appl. Algebra 179 (2003), no. 1-2, 127–136.


Chiu-Chu Melissa Liu, Localization in Gromov-Witten theory and orbifold Gromov-Witten theory, Handbook of moduli. Vol. II, Adv. Lect. Math. (ALM), vol. 25, Int. Press, Somerville, MA, 2013, pp. 353–425.


Rahul Pandharipande, Rational curves on hypersurfaces (after A. Givental), no. 252, 1998, S´eminaire Bourbaki. Vol. 1997/98, pp. Exp. No. 848, 5, 307–340.


Constantin Teleman, Gauge theory and mirror symmetry, Proceedings of the International Congress of Mathematicians—Seoul 2014. Vol. II, Kyung Moon Sa, Seoul, 2014, pp. 1309–1332.


Valentin Tonita, Twisted orbifold Gromov-Witten invariants, Nagoya Math. J. 213 (2014), 141–187.


Angelo Vistoli, Intersection theory on algebraic stacks and on their moduli spaces, Invent. Math. 97 (1989), no. 3, 613–670. This paper is available on arxiv under CC 4.0 license. Author: (1) Yuki Koto Author: Author: (1) Yuki Koto Table of Links Abstract and Intro Genus-zero Gromov-Witten Theory Toric Bundles Lagrangian cones of Toric bundles Mirror theorem for a product of projectives bundles Mirror Theorem for Toric Bundles Appendix A. Equivariant Fourier Transformation and References Abstract and Intro Abstract and Intro Genus-zero Gromov-Witten Theory Genus-zero Gromov-Witten Theory Toric Bundles Toric Bundles Lagrangian cones of Toric bundles Lagrangian cones of Toric bundles Mirror theorem for a product of projectives bundles Mirror theorem for a product of projectives bundles Mirror Theorem for Toric Bundles Mirror Theorem for Toric Bundles Appendix A. Equivariant Fourier Transformation and References Appendix A. Equivariant Fourier Transformation and References Appendix A. Equivariant Fourier transformation Note that this is a straightforward generalization of [20, Conjecture 1.7]. References Dan Abramovich, Tom Graber, and Angelo Vistoli, Gromov-Witten theory of Deligne-Mumford stacks, Amer. J. Math. 130 (2008), no. 5, 1337–1398. M. F. Atiyah and R. Bott, The moment map and equivariant cohomology, Topology 23 (1984), no. 1, 1–28. K. Behrend, Gromov-Witten invariants in algebraic geometry, Invent. Math. 127 (1997), no. 3, 601–617. Nicole Berline and Mich`ele Vergne, Classes caract´eristiques ´equivariantes. Formule de localisation en cohomologie ´equivariante, C. R. Acad. Sci. Paris S´er. I Math. 295 (1982), no. 9, 539–541. Jeff Brown, Gromov-Witten invariants of toric fibrations, Int. Math. Res. Not. IMRN (2014), no. 19, 5437–5482. Charles Cadman, Using stacks to impose tangency conditions on curves, Amer. J. Math. 129 (2007), no. 2, 405–427. Tom Coates, Alessio Corti, Hiroshi Iritani, and Hsian-Hua Tseng, Computing genus-zero twisted GromovWitten invariants, Duke Math. J. 147 (2009), no. 3, 377–438. _________, A mirror theorem for toric stacks, Compos. Math. 151 (2015), no. 10, 1878–1912. Tom Coates and Alexander Givental, Quantum Riemann-Roch, Lefschetz and Serre, Ann. of Math. (2) 165 (2007), no. 1, 15–53. Artur Elezi, A mirror conjecture for projective bundles, Int. Math. Res. Not. (2005), no. 55, 3445–3458. Honglu Fan and Yuan-Pin Lee, On Gromov-Witten theory of projective bundles, Michigan Math. J. 69 (2020), no. 1, 153–178. William Fulton, Intersection theory, second ed., Ergebnisse der Mathematik und ihrer Grenzgebiete. 3. Folge. A Series of Modern Surveys in Mathematics [Results in Mathematics and Related Areas. 3rd Series. A Series of Modern Surveys in Mathematics], vol. 2, Springer-Verlag, Berlin, 1998. Alexander Givental, A mirror theorem for toric complete intersections, Topological field theory, primitive forms and related topics (Kyoto, 1996), Progr. Math., vol. 160, Birkh¨auser Boston, Boston, MA, 1998, pp. 141–175. Alexander B. Givental, Symplectic geometry of Frobenius structures, Frobenius manifolds, Aspects Math., vol. E36, Friedr. Vieweg, Wiesbaden, 2004, pp. 91–112. T. Graber and R. Pandharipande, Localization of virtual classes, Invent. Math. 135 (1999), no. 2, 487–518. Tam´as Hausel and Bernd Sturmfels, Toric hyperK¨ahler varieties, Doc. Math. 7 (2002), 495–534. Hiroshi Iritani, An integral structure in quantum cohomology and mirror symmetry for toric orbifolds, Adv. Math. 222 (2009), no. 3, 1016–1079. _________, Quantum cohomology and periods, Ann. Inst. Fourier (Grenoble) 61 (2011), no. 7, 2909–2958. _________, Shift operators and toric mirror theorem, Geom. Topol. 21 (2017), no. 1, 315–343. Hiroshi Iritani, Quantum cohomology of blowups, 2023. Hiroshi Iritani and Yuki Koto, Quantum cohomology of projective bundles, 2023, arXiv:2307.03696 [math.AG]. Hiroshi Iritani and Fumihiko Sanda, private communication. Yunfeng Jiang, Hsian-Hua Tseng, and Fenglong You, The quantum orbifold cohomology of toric stack bundles, Lett. Math. Phys. 107 (2017), no. 3, 439–465. Bumsig Kim, Andrew Kresch, and Tony Pantev, Functoriality in intersection theory and a conjecture of Cox, Katz, and Lee, J. Pure Appl. Algebra 179 (2003), no. 1-2, 127–136. Chiu-Chu Melissa Liu, Localization in Gromov-Witten theory and orbifold Gromov-Witten theory, Handbook of moduli. Vol. II, Adv. Lect. Math. (ALM), vol. 25, Int. Press, Somerville, MA, 2013, pp. 353–425. Rahul Pandharipande, Rational curves on hypersurfaces (after A. Givental), no. 252, 1998, S´eminaire Bourbaki. Vol. 1997/98, pp. Exp. No. 848, 5, 307–340. Constantin Teleman, Gauge theory and mirror symmetry, Proceedings of the International Congress of Mathematicians—Seoul 2014. Vol. II, Kyung Moon Sa, Seoul, 2014, pp. 1309–1332. Valentin Tonita, Twisted orbifold Gromov-Witten invariants, Nagoya Math. J. 213 (2014), 141–187. Angelo Vistoli, Intersection theory on algebraic stacks and on their moduli spaces, Invent. Math. 97 (1989), no. 3, 613–670. Dan Abramovich, Tom Graber, and Angelo Vistoli, Gromov-Witten theory of Deligne-Mumford stacks, Amer. J. Math. 130 (2008), no. 5, 1337–1398. Dan Abramovich, Tom Graber, and Angelo Vistoli, Gromov-Witten theory of Deligne-Mumford stacks, Amer. J. Math. 130 (2008), no. 5, 1337–1398. M. F. Atiyah and R. Bott, The moment map and equivariant cohomology, Topology 23 (1984), no. 1, 1–28. M. F. Atiyah and R. Bott, The moment map and equivariant cohomology, Topology 23 (1984), no. 1, 1–28. K. Behrend, Gromov-Witten invariants in algebraic geometry, Invent. Math. 127 (1997), no. 3, 601–617. K. Behrend, Gromov-Witten invariants in algebraic geometry, Invent. Math. 127 (1997), no. 3, 601–617. Nicole Berline and Mich`ele Vergne, Classes caract´eristiques ´equivariantes. Formule de localisation en cohomologie ´equivariante, C. R. Acad. Sci. Paris S´er. I Math. 295 (1982), no. 9, 539–541. Nicole Berline and Mich`ele Vergne, Classes caract´eristiques ´equivariantes. Formule de localisation en cohomologie ´equivariante, C. R. Acad. Sci. Paris S´er. I Math. 295 (1982), no. 9, 539–541. Jeff Brown, Gromov-Witten invariants of toric fibrations, Int. Math. Res. Not. IMRN (2014), no. 19, 5437–5482. Jeff Brown, Gromov-Witten invariants of toric fibrations, Int. Math. Res. Not. IMRN (2014), no. 19, 5437–5482. Charles Cadman, Using stacks to impose tangency conditions on curves, Amer. J. Math. 129 (2007), no. 2, 405–427. Charles Cadman, Using stacks to impose tangency conditions on curves, Amer. J. Math. 129 (2007), no. 2, 405–427. Tom Coates, Alessio Corti, Hiroshi Iritani, and Hsian-Hua Tseng, Computing genus-zero twisted GromovWitten invariants, Duke Math. J. 147 (2009), no. 3, 377–438. Tom Coates, Alessio Corti, Hiroshi Iritani, and Hsian-Hua Tseng, Computing genus-zero twisted GromovWitten invariants, Duke Math. J. 147 (2009), no. 3, 377–438. _________, A mirror theorem for toric stacks, Compos. Math. 151 (2015), no. 10, 1878–1912. _________ , A mirror theorem for toric stacks, Compos. Math. 151 (2015), no. 10, 1878–1912. _________ Tom Coates and Alexander Givental, Quantum Riemann-Roch, Lefschetz and Serre, Ann. of Math. (2) 165 (2007), no. 1, 15–53. Tom Coates and Alexander Givental, Quantum Riemann-Roch, Lefschetz and Serre, Ann. of Math. (2) 165 (2007), no. 1, 15–53. Artur Elezi, A mirror conjecture for projective bundles, Int. Math. Res. Not. (2005), no. 55, 3445–3458. Artur Elezi, A mirror conjecture for projective bundles, Int. Math. Res. Not. (2005), no. 55, 3445–3458. Honglu Fan and Yuan-Pin Lee, On Gromov-Witten theory of projective bundles, Michigan Math. J. 69 (2020), no. 1, 153–178. Honglu Fan and Yuan-Pin Lee, On Gromov-Witten theory of projective bundles, Michigan Math. J. 69 (2020), no. 1, 153–178. William Fulton, Intersection theory, second ed., Ergebnisse der Mathematik und ihrer Grenzgebiete. 3. Folge. A Series of Modern Surveys in Mathematics [Results in Mathematics and Related Areas. 3rd Series. A Series of Modern Surveys in Mathematics], vol. 2, Springer-Verlag, Berlin, 1998. William Fulton, Intersection theory, second ed., Ergebnisse der Mathematik und ihrer Grenzgebiete. 3. Folge. A Series of Modern Surveys in Mathematics [Results in Mathematics and Related Areas. 3rd Series. A Series of Modern Surveys in Mathematics], vol. 2, Springer-Verlag, Berlin, 1998. Alexander Givental, A mirror theorem for toric complete intersections, Topological field theory, primitive forms and related topics (Kyoto, 1996), Progr. Math., vol. 160, Birkh¨auser Boston, Boston, MA, 1998, pp. 141–175. Alexander Givental, A mirror theorem for toric complete intersections, Topological field theory, primitive forms and related topics (Kyoto, 1996), Progr. Math., vol. 160, Birkh¨auser Boston, Boston, MA, 1998, pp. 141–175. Alexander B. Givental, Symplectic geometry of Frobenius structures, Frobenius manifolds, Aspects Math., vol. E36, Friedr. Vieweg, Wiesbaden, 2004, pp. 91–112. Alexander B. Givental, Symplectic geometry of Frobenius structures, Frobenius manifolds, Aspects Math., vol. E36, Friedr. Vieweg, Wiesbaden, 2004, pp. 91–112. T. Graber and R. Pandharipande, Localization of virtual classes, Invent. Math. 135 (1999), no. 2, 487–518. T. Graber and R. Pandharipande, Localization of virtual classes, Invent. Math. 135 (1999), no. 2, 487–518. Tam´as Hausel and Bernd Sturmfels, Toric hyperK¨ahler varieties, Doc. Math. 7 (2002), 495–534. Tam´as Hausel and Bernd Sturmfels, Toric hyperK¨ahler varieties, Doc. Math. 7 (2002), 495–534. Hiroshi Iritani, An integral structure in quantum cohomology and mirror symmetry for toric orbifolds, Adv. Math. 222 (2009), no. 3, 1016–1079. Hiroshi Iritani, An integral structure in quantum cohomology and mirror symmetry for toric orbifolds, Adv. Math. 222 (2009), no. 3, 1016–1079. _________, Quantum cohomology and periods, Ann. Inst. Fourier (Grenoble) 61 (2011), no. 7, 2909–2958. _________ , Quantum cohomology and periods, Ann. Inst. Fourier (Grenoble) 61 (2011), no. 7, 2909–2958. _________ _________, Shift operators and toric mirror theorem, Geom. Topol. 21 (2017), no. 1, 315–343. _________ , Shift operators and toric mirror theorem, Geom. Topol. 21 (2017), no. 1, 315–343. _________ Hiroshi Iritani, Quantum cohomology of blowups, 2023. Hiroshi Iritani, Quantum cohomology of blowups, 2023. Hiroshi Iritani and Yuki Koto, Quantum cohomology of projective bundles, 2023, arXiv:2307.03696 [math.AG]. Hiroshi Iritani and Yuki Koto, Quantum cohomology of projective bundles, 2023, arXiv:2307.03696 [ math.AG ]. math.AG Hiroshi Iritani and Fumihiko Sanda, private communication. Hiroshi Iritani and Fumihiko Sanda, private communication. Yunfeng Jiang, Hsian-Hua Tseng, and Fenglong You, The quantum orbifold cohomology of toric stack bundles, Lett. Math. Phys. 107 (2017), no. 3, 439–465. Yunfeng Jiang, Hsian-Hua Tseng, and Fenglong You, The quantum orbifold cohomology of toric stack bundles, Lett. Math. Phys. 107 (2017), no. 3, 439–465. Bumsig Kim, Andrew Kresch, and Tony Pantev, Functoriality in intersection theory and a conjecture of Cox, Katz, and Lee, J. Pure Appl. Algebra 179 (2003), no. 1-2, 127–136. Bumsig Kim, Andrew Kresch, and Tony Pantev, Functoriality in intersection theory and a conjecture of Cox, Katz, and Lee, J. Pure Appl. Algebra 179 (2003), no. 1-2, 127–136. Chiu-Chu Melissa Liu, Localization in Gromov-Witten theory and orbifold Gromov-Witten theory, Handbook of moduli. Vol. II, Adv. Lect. Math. (ALM), vol. 25, Int. Press, Somerville, MA, 2013, pp. 353–425. Chiu-Chu Melissa Liu, Localization in Gromov-Witten theory and orbifold Gromov-Witten theory, Handbook of moduli. Vol. II, Adv. Lect. Math. (ALM), vol. 25, Int. Press, Somerville, MA, 2013, pp. 353–425. Rahul Pandharipande, Rational curves on hypersurfaces (after A. Givental), no. 252, 1998, S´eminaire Bourbaki. Vol. 1997/98, pp. Exp. No. 848, 5, 307–340. Rahul Pandharipande, Rational curves on hypersurfaces (after A. Givental), no. 252, 1998, S´eminaire Bourbaki. Vol. 1997/98, pp. Exp. No. 848, 5, 307–340. Constantin Teleman, Gauge theory and mirror symmetry, Proceedings of the International Congress of Mathematicians—Seoul 2014. Vol. II, Kyung Moon Sa, Seoul, 2014, pp. 1309–1332. Constantin Teleman, Gauge theory and mirror symmetry, Proceedings of the International Congress of Mathematicians—Seoul 2014. Vol. II, Kyung Moon Sa, Seoul, 2014, pp. 1309–1332. Valentin Tonita, Twisted orbifold Gromov-Witten invariants, Nagoya Math. J. 213 (2014), 141–187. Valentin Tonita, Twisted orbifold Gromov-Witten invariants, Nagoya Math. J. 213 (2014), 141–187. Angelo Vistoli, Intersection theory on algebraic stacks and on their moduli spaces, Invent. Math. 97 (1989), no. 3, 613–670. Angelo Vistoli, Intersection theory on algebraic stacks and on their moduli spaces, Invent. Math. 97 (1989), no. 3, 613–670. This paper is available on arxiv under CC 4.0 license. This paper is available on arxiv under CC 4.0 license. available on arxiv

A Mirror Theorem for Non-split Toric Bundles: Appendix a and References

অ-বিভক্ত টরিক বান্ডেলের জন্য একটি মিরর উপপাদ্য: পরিশিষ্ট একটি এবং রেফারেন্স

Ein Spiegelsatz für nicht-geteilte torische Bündel: Anhang a und Referenzen

Un teorema del espejo para haces tóricos no divididos: Apéndice a y referencias

Un théorème du miroir pour les faisceaux toriques non divisés : annexe a et références

गैर-विभाजित टॉरिक बंडलों के लिए दर्पण प्रमेय: परिशिष्ट ए और संदर्भ

非分割トーリック束のミラー定理: 付録 a と参考文献

비분할 토릭 번들에 대한 거울 정리: 부록 a 및 참고 자료

Um Teorema do Espelho para Pacotes Tóricos Não Divididos: Apêndice a e Referências

Зеркальная теорема для нерасщепляемых торических расслоений: приложение а и список литературы

Bölünmemiş Torik Demetler için Ayna Teoremi: Ek a ve Referanslar

Định lý gương cho các gói Toric không phân chia: Phụ lục a và Tài liệu tham khảo

非分裂环面束的镜像定理：附录 a 和参考文献

Authors:
(1) Fabiano Villan, Universidade Luterana do Brasil (ULBRA), Curso de Licenciatura em Física;
(2) Renato P. dos Santos, Universidade Luterana do Brasil (ULBRA), PPG em Ensino de Ciências e Matemática (PPGECIM). Table of Links Abstract Introduction Theoretical Framework The ZPD and Chat GPT as a Co-Advisor in Scientific Guidance Methodology Results and Analysis Conclusions, Acknowledgements, Author's Contribution Statement, Data Availability Statement References APÊNDICE A APÊNDICE B REFERENCES Adams, C., Pente, P., Lemermeyer, G., & Rockwell, G. (2023). Ethical principles for artificial intelligence in K-12 education. Computers and Education: Artificial Intelligence, 4, 100131. https://doi.org/10.1016/j.caeai.2023.100131 Aureliano, F. E. B. S. & Queiroz, D. E. de (2023). As Tecnologias Digitais como Recursos Pedagógicos no Ensino Remoto: Implicações na Formação Continuada e nas Práticas Docentes. Educação em Revista, 39. https://doi.org/10.1590/0102-469839080 Borges, F. M., Rita, C. P. B., & Vitérico, J. M. (2022). Elementos mobilizados pelo professor no processo de orientação de iniciação científica na educação básica. Actio, Curitiba, 8(2), 1-17 Borges, R. de C. P. & Borges, M. F. (2018). Elementos mobilizados pelo professor no processo de orientação de iniciação científica na educação básica. In: Peixoto, A., Oliveira, J., Gonçalves, J., Luísa Neves, Rita Cruz. Atas do XVII Encontro Nacional de Educação em Ciências, XVII ENEC, I Seminário Internacional de Educação em Ciências, I SIEC, Viana do Castelo, fevereiro de 2018. (p. 404-410). Brasil. (2015). Conselho Nacional de Desenvolvimento Científico e Tecnológico. Iniciação Científica Junior – ICJ. https://www.gov.br/mcti/pt-br/acompanhe-o-mcti/bolsacientifica/saiba-mais Brasil. (2018). Ministério da Educação. Base Nacional Comum Curricular. Brasília. http://basenacionalcomum.mec.gov.br/images/BNCC_EI_EF_110518 _versaofinal_site.pdf da Silveira, J. C., Cassiani, S., & Von Linsingen, I. (2018). Escrita e autoria em texto de iniciação científica no ensino fundamental: uma outra relação com o saber é possível? Ciência e Educação, Bauru, 24(1), 9- 25 de Cássia Nakano, T., Primi, R., & Alves, R. J. R. (2021). 21st century skills: relationship between creativity and socioemotional skills in Brazilian students. Educar em Revista, 37, e81544. http://dx.doi.org/10.1590/0104-4060.81544 Fisher, R. A. (1935). The Design of Experiments. Oliver and Boyd. Freire, P. (1996). Pedagogia da autonomia: saberes necessários à prática educativa. 25. ed. Paz e Terra. Gil-Pérez, D. & Carvalho, A. M. P. de. (2001). Formação de Professores de Ciências: tendências e inovações. 6. ed. Hernández, F. & Ventura, M. (1998). A organização do currículo por projetos de trabalho: O conhecimento é um caleidoscópio. Artmed. Kemmis, S., & McTaggart, R. (Eds.). (1988). The action research planner. Deakin University. Lewin, K. (1946). Action research and minority problems. In G. W. Lewin (Ed.), Resolving social conflicts; selected papers on group dynamics (pp. 201-216). Harper & Row. Mekari. D. (2023). Linha do tempo: história da inteligência artificial. https://porvir.org/linha-do-tempo-historia-da-inteligencia-artificial-naeducacao . Nascimento, M. B. da C. & Morosini, M. (2019). Perspectives, Scope and Meanings of Scientific Initiation in Scientific Productions. Rev. Tempos Espaços Educ., São Cristóvão, 12(29), 161-176. http://doi.org/10.20952/revtee.v12i29.9825 National Academies of Sciences, Engineering, and Medicine. (1997). Science Teaching Reconsidered: A Handbook. The National Academies Press. https://doi.org/10.17226/5287. Perrenoud, P. (2000). Dez novas competências para ensinar. Artmed. Rodrigues, H. (2021). Como a tecnologia pode impactar a educação no século 21. Forbes. https://forbes.com.br/forbescollab/2021/08/haroldo-rodrigues-como-a-tecnologia-pode-impactara-educacao-do-seculo-21/ Saliba, T. A., Custodio, L. B. de M., Saliba, N. A., & Moimaz, S. A. S. (2019). O impacto da Iniciação Científica na produção bibliográfica de pós-graduandos. Revista da ABENO, 19(1), 127–133. https://doi.org/10.30979/rev.abeno.v19i1.873 Santos, A.L.C., Silva, F.V.C., Santos, L.G.T., & Aguiar, A.A.F.M. (2020). Dificuldades apontadas por professores do programa de mestrado profissional em ensino de biologia para o uso de metodologias ativas em escolas da rede pública na Paraíba. Revista Brasileira de Desenvolvimento, 6(4), 21959–21973. Schmidt, H.G. (2012). A Brief History of Problem-based Learning. In: O'Grady, G., Yew, E., Goh, K., Schmidt, H. (eds) One-Day, OneProblem. Springer. https://doi.org/10.1007/978-981-4021-75-3_2 Servant‐Miklos, V. F. C., Norman, G., & Schmidt, H. (2019). A Short Intellectual History of Problem‐Based Learning. In: The Wiley Handbook of Problem‐Based Learning. http://doi.org/10.1002/9781119173243.CH1 Silva, J. M. & Paniago, M. C. L. (2022). TDIC nas licenciaturas: discutindo resistências. Anais VIII CONEDU. Realize. https://www.editorarealize.com.br/index.php/artigo/visualizar/88333 Vygotsky, L. S. (1991). A Formação Social da Mente. Martins Fontes. Vygotsky, L. S. (2001). Aprendizagem e desenvolvimento intelectual na idade escolar. In: Vygotsky, L. S.; Luria, A. R.; Leontiev, A. Linguagem, Desenvolvimento e Aprendizagem. 9. ed. Ícone APÊNDICE A APÊNDICE B This paper is available on arxiv under CC BY-NC-ND 4.0 DEED license. Authors: (1) Fabiano Villan, Universidade Luterana do Brasil (ULBRA), Curso de Licenciatura em Física; (2) Renato P. dos Santos, Universidade Luterana do Brasil (ULBRA), PPG em Ensino de Ciências e Matemática (PPGECIM). Authors: Authors: (1) Fabiano Villan, Universidade Luterana do Brasil (ULBRA), Curso de Licenciatura em Física; (2) Renato P. dos Santos, Universidade Luterana do Brasil (ULBRA), PPG em Ensino de Ciências e Matemática (PPGECIM). Table of Links Abstract Abstract Introduction Introduction Theoretical Framework Theoretical Framework The ZPD and Chat GPT as a Co-Advisor in Scientific Guidance The ZPD and Chat GPT as a Co-Advisor in Scientific Guidance Methodology Methodology Results and Analysis Results and Analysis Conclusions, Acknowledgements, Author's Contribution Statement, Data Availability Statement Conclusions, Acknowledgements, Author's Contribution Statement, Data Availability Statement References References APÊNDICE A APÊNDICE A APÊNDICE B APÊNDICE B REFERENCES Adams, C., Pente, P., Lemermeyer, G., & Rockwell, G. (2023). Ethical principles for artificial intelligence in K-12 education. Computers and Education: Artificial Intelligence, 4, 100131. https://doi.org/10.1016/j.caeai.2023.100131 Aureliano, F. E. B. S. & Queiroz, D. E. de (2023). As Tecnologias Digitais como Recursos Pedagógicos no Ensino Remoto: Implicações na Formação Continuada e nas Práticas Docentes. Educação em Revista, 39. https://doi.org/10.1590/0102-469839080 Borges, F. M., Rita, C. P. B., & Vitérico, J. M. (2022). Elementos mobilizados pelo professor no processo de orientação de iniciação científica na educação básica. Actio, Curitiba, 8(2), 1-17 Borges, R. de C. P. & Borges, M. F. (2018). Elementos mobilizados pelo professor no processo de orientação de iniciação científica na educação básica. In: Peixoto, A., Oliveira, J., Gonçalves, J., Luísa Neves, Rita Cruz. Atas do XVII Encontro Nacional de Educação em Ciências, XVII ENEC, I Seminário Internacional de Educação em Ciências, I SIEC, Viana do Castelo, fevereiro de 2018. (p. 404-410). Brasil. (2015). Conselho Nacional de Desenvolvimento Científico e Tecnológico. Iniciação Científica Junior – ICJ. https://www.gov.br/mcti/pt-br/acompanhe-o-mcti/bolsacientifica/saiba-mais Brasil. (2018). Ministério da Educação. Base Nacional Comum Curricular. Brasília. http://basenacionalcomum.mec.gov.br/images/BNCC_EI_EF_110518 _versaofinal_site.pdf da Silveira, J. C., Cassiani, S., & Von Linsingen, I. (2018). Escrita e autoria em texto de iniciação científica no ensino fundamental: uma outra relação com o saber é possível? Ciência e Educação, Bauru, 24(1), 9- 25 de Cássia Nakano, T., Primi, R., & Alves, R. J. R. (2021). 21st century skills: relationship between creativity and socioemotional skills in Brazilian students. Educar em Revista, 37, e81544. http://dx.doi.org/10.1590/0104-4060.81544 Fisher, R. A. (1935). The Design of Experiments. Oliver and Boyd. Freire, P. (1996). Pedagogia da autonomia: saberes necessários à prática educativa. 25. ed. Paz e Terra. Gil-Pérez, D. & Carvalho, A. M. P. de. (2001). Formação de Professores de Ciências: tendências e inovações. 6. ed. Hernández, F. & Ventura, M. (1998). A organização do currículo por projetos de trabalho: O conhecimento é um caleidoscópio. Artmed. Kemmis, S., & McTaggart, R. (Eds.). (1988). The action research planner. Deakin University. Lewin, K. (1946). Action research and minority problems. In G. W. Lewin (Ed.), Resolving social conflicts; selected papers on group dynamics (pp. 201-216). Harper & Row. Mekari. D. (2023). Linha do tempo: história da inteligência artificial. https://porvir.org/linha-do-tempo-historia-da-inteligencia-artificial-naeducacao . Nascimento, M. B. da C. & Morosini, M. (2019). Perspectives, Scope and Meanings of Scientific Initiation in Scientific Productions. Rev. Tempos Espaços Educ., São Cristóvão, 12(29), 161-176. http://doi.org/10.20952/revtee.v12i29.9825 National Academies of Sciences, Engineering, and Medicine. (1997). Science Teaching Reconsidered: A Handbook. The National Academies Press. https://doi.org/10.17226/5287. Perrenoud, P. (2000). Dez novas competências para ensinar. Artmed. Rodrigues, H. (2021). Como a tecnologia pode impactar a educação no século 21. Forbes. https://forbes.com.br/forbescollab/2021/08/haroldo-rodrigues-como-a-tecnologia-pode-impactara-educacao-do-seculo-21/ Saliba, T. A., Custodio, L. B. de M., Saliba, N. A., & Moimaz, S. A. S. (2019). O impacto da Iniciação Científica na produção bibliográfica de pós-graduandos. Revista da ABENO, 19(1), 127–133. https://doi.org/10.30979/rev.abeno.v19i1.873 Santos, A.L.C., Silva, F.V.C., Santos, L.G.T., & Aguiar, A.A.F.M. (2020). Dificuldades apontadas por professores do programa de mestrado profissional em ensino de biologia para o uso de metodologias ativas em escolas da rede pública na Paraíba. Revista Brasileira de Desenvolvimento, 6(4), 21959–21973. Schmidt, H.G. (2012). A Brief History of Problem-based Learning. In: O'Grady, G., Yew, E., Goh, K., Schmidt, H. (eds) One-Day, OneProblem. Springer. https://doi.org/10.1007/978-981-4021-75-3_2 Servant‐Miklos, V. F. C., Norman, G., & Schmidt, H. (2019). A Short Intellectual History of Problem‐Based Learning. In: The Wiley Handbook of Problem‐Based Learning. http://doi.org/10.1002/9781119173243.CH1 Silva, J. M. & Paniago, M. C. L. (2022). TDIC nas licenciaturas: discutindo resistências. Anais VIII CONEDU. Realize. https://www.editorarealize.com.br/index.php/artigo/visualizar/88333 Vygotsky, L. S. (1991). A Formação Social da Mente. Martins Fontes. Vygotsky, L. S. (2001). Aprendizagem e desenvolvimento intelectual na idade escolar. In: Vygotsky, L. S.; Luria, A. R.; Leontiev, A. Linguagem, Desenvolvimento e Aprendizagem. 9. ed. Ícone APÊNDICE A APÊNDICE B This paper is available on arxiv under CC BY-NC-ND 4.0 DEED license. This paper is available on arxiv under CC BY-NC-ND 4.0 DEED license. available on arxiv

Exploring AI's Role in Pedagogical Innovation

A TRUFFLE-HUNTER: THE BOLBOCERAS GALLICUS

I have close Brazilian friends. Talented, tech-savvy, and extremely creative, my friends come from a diversity of professional backgrounds in software engineering, project management, information technology, design, and marketing. Rarely a dull moment when we connect, they have become like an extended family to me. When I told them I was researching and writing about the space industry in Brazil, they were both enthusiastic and a bit surprised. Space efforts at home emerge in the media on a relatively sporadic basis… The famous astrophysicist recently on Brazil along these lines. The letter is part of the Brazilian Portuguese edition of his book (2019). Dr. Tyson points out the importance of Brazil’s legacy in aviation and aeronautics with its home-grown and publicly traded aerospace conglomerate, . Based in the state of São Paulo since 1969, EMBRAER is a robust powerhouse that designs, manufactures, and sells aircraft and its parts for commercial, business, and military uses. Tyson also highlights the achievements of the first Brazilian astronaut, Lt. Col. Marcos Pontes, who flew on board the Russian Soyuz TMA-8   to the International Space Station. Since 2018, Pontes serves as Minister of State at the (Ministry of Science, Technology, and Innovation). Dr. Neil deGrasse Tyson shared his point of view Letters from an Astrophysicist Empresa Brasileira de Aeronáutica - EMBRAER Ministério da Ciência, Tecnologia e Inovações - MCTI Pontes and fellow crew members at the International Space Station. 2006 I wanted to offer a different angle of inquiry to my readers. Momentum, energy, and vibrancy dominate the tech startup ecosystem in Brazil.  This tech startup dynamism is especially evident in the city and state of São Paulo. If I borrow the philosophical , which explain that energy can neither be created nor destroyed in a given system - only converted from one form of energy to another, I ask myself the following questions. Can the space industry in Brazil also leverage the energy and vibrancy currently present in its tech startup ecosystem? With so much tech momentum, what's the status of space startups in Brazil? principles and questions from the laws of physics Setting the Context: The Startup Vibrancy Rich in precious natural resources and , Brazil is also the largest country in Latin America. The city of São Paulo, which is home to most of my friends, is one of the most populous cities in the Western Hemisphere. The University of São Paulo is by The World University Rankings. With some of the best academic programs and research in STEM (Science, Technology, Engineering and Mathematics), it is no surprise that . The city hosts the innovation and data centers of global titans such as Microsoft, Google, and Facebook. São Paulo is also the regional headquarters for Airbnb, Netflix, and Amazon. among the top world economies ranked in the top 100 the city is also full of tech companies and startups The startup ecosystem in São Paulo city is an impressively fine-tuned conveyer belt. In the year 2019, after the United States and China as the country in the world with the most tech startups that reach unicorn status. Unicorns are startups valued at US$ 1 billion or above. Brazil shared this spot with Germany. Some of these Brazilian tech unicorns leverage mobile gaming technologies, fintech, service delivery, healthcare, and real estate. Several unicorns are based in the city of São Paulo. Brazil ranked third Brazil has become an attractive market for venture capital and investors. In fact, it is the country in Latin America with the . The influx of venture capital reached an approximate US$ 2.49 billion in 2019. According to The , investments spread across 222 deals. The amount in 2018 totaled US$ 1.3 billion. Additionally, there is also the recent , which has heavily invested in Brazilian startups. most venture capital funds for its startups Association for Private Capital Investment in Latin America - LAVCA SoftBank-led Latin America tech fund of US$ 5 billion This startup boom in Brazil dates back to the late 1990s and early 2000s. With access to the Internet and increased web and mobile connectivity, the cascade of technologies, businesses, and startups followed. This growth is especially prevalent in the IT and tech worlds including, software development, cloud computing, artificial intelligence, Internet of Things - IoT, and mobile gaming. in 2018 beat the global average yearly increase with a solid 9.8%. Brazilian software developers and IT professionals are in top demand as well. Brazil is one of the for IT. Frequent international events and trade shows continue to position Brazil’s tech leadership in the region. Surprisingly, none of these unicorns relate to the space industry… Brazil’s IT market top outsourcing destinations The Case for Space Startups In the space industry, startups can be bold and efficient. With initial shorter cycles for experimentation and iteration, controlled risks facilitate scientific and technological breakthroughs. Today’s big global space players were once just startups and ideas. However, numerous space startups face the common challenge of rallying investment and venture capital with a length of time and effort greater than for other tech startups. In this sense, and despite growing interest in the global space economy, many tech entrepreneurs have remained at the periphery of Brazil's space industry. There are a few and remarkable space entpreneurs, however, which are currently driving innovation in the space startup ecosystem. I met earlier this fall. Lucas is the CEO and Founder of the space startup . Based in São Carlos in the state of São Paulo, Airvantis works in tandem with private and public partners in Brazil and overseas for space science. The company also has activities in the United States. It is part of the international network of startups in the . Lucas Fonseca Airvantis New York Space Alliance (NYSA) Lucas Fonseca, CEO and Founder of Airvantis. November 2020. Airvantis . It also serves as an incubator and innovation center for the collaborative . Garatéa-L is the first proposed Brazilian lunar commercial space mission. On its lunar orbit, the mission would test the survival of specific bacteria and fungi. sends scientific experiments to the International Space Station Mission Garatéa - L Lucas was born and raised in Santos in the state of São Paulo. His interests in space start early on in childhood. Lucas remembers growing up in the eighties in Brazil. Science fiction masterpieces and iconic space operas surfaced during this decade. These include E.T., Blade Runner, 2010, Dune, Aliens, The Terminator, Star Wars Episodes V and VI, and many others. Without a clear path to pursue his space ambitions at home, but with a vision to be part of the incredible world showcased in films, Lucas pursued studies overseas. This path opened doors for him to work in international space missions. “I never gave up being a space guy. And this is hard in Brazil, especially when I went to university. We didn’t have a space course per se at the university, so I pursued mechatronic engineering as my path to the space industry… When I was invited to work for the Rosetta Mission after my studies in Space Systems Engineering in France… I realized it was an opportunity to land on a comet that was very unique.” The launched in 2004. During a period of 12 years, the mission achieved historic milestones. It was the first time that a spacecraft did a rendezvous to study and follow the comet 67P/Churyumov–Gerasimenko in its orbit around the sun. During its journey, the Rosetta spacecraft conducted flybys of Planet Earth, Mars, and the asteroids 21 Lutetia and 2867 Šteins. The Philae robotic lander on board the Rosetta spacecraft was also the first-ever to successfully deploy in 2014 on the surface of a comet. The Rosetta mission definitely made a deep impression on Lucas and his own sense of purpose. European Space Agency - ESA Rosetta mission “Brazil was a blue ocean for me. I thought maybe I could try to catch the new space movement in Brazil. That's why I decided to open my own company in Brazil in 2012…” Invited to speak often to other countries in Latin America about his career and entrepreneurial path, Lucas assesses the challenges of getting visibility and traction as a space startup. A lot of the media coverage in Brazil tends to focus on what is being done overseas at the expense of local efforts. The government space program is very established with intricate systems and structures. Its strength has been on space cooperation for satellites rather than rocket launches. However, the sparks of enthusiasm and motivation are needed across public and private sectors to build and rally support for space. “People have no idea that we have such a varied space program in Brazil…We should be proud of the things we do in Brazil. This is something that I’m trying to evangelize. How to talk about space. How to train the right person to reach out to the media… You cannot expect the media to come to us… We need to know how to sell it.” Music video. Dormiveglia . “Things are happening in the space industry… But we need to have this spark of people in Brazil that want to do it even if it’s hard. It’s possible to have a space startup just like a delivery service startup. It’s getting easier because it’s more accessible to send things to space or to work on things related to space… It doesn’t matter if you have a space background or not because the possibilities are huge. You can work in communications, satellite imagery, and so much more…” Startup-driven innovation is especially relevant to the world's older and more established space programs like in Brazil. Startup vibrancy is a good benchmark for the future health of a country’s role in the growing globalized space economy. In this respect, a consolidated effort across sectors in Brazil to generate awareness of local efforts matters. Lucas agrees with this. “When you do something different for others, people love it. If you like space and you like being entrepreneurial, it doesn’t matter if you have a space background or not. We need to work for our future in space. We cannot rely on the government alone to link up and build a huge ecosystem…” Looking Back to Look Ahead Brazil’s government-led space program is one of the oldest in the world. It was formally established in 1960. This is just two years after the officially set up shop in the United States in 1958, and years ahead of its home-grown conglomerate EMBRAER. National Aeronautics Space Administration - NASA The origins of Brazil’s program date to work of the Grupo de Organização da Comissão Nacional de Atividades Espaciais - GOCNAE (Organization Group of the National Commission of Space Activities). This commission was appointed by presidential decree for space exploration, travel, and research. The researchers at GOCNAE contributed in its early days to numerous scientific international projects. This dynamic changed abruptly under the authoritarian military regime (1964- 1985). During this turbulent time in Brazilian history, the (National Institute for Space Research) substituted GOCNAE. INPE is based in São José dos Campos in the state of São Paulo. It quickly becomes the technical and scientific backbone for Brazil’s space program. Instituto Nacional de Pesquisas Espaciais - INPE The for high atmospheric research are also developed early on. These rockets were launched multiple times as early as 1965. For the sake of comparison, reflect the beginnings of the usage of sounding rockets in the United States in the late 1940s. In South America, only Argentina managed to develop the capabilities of sounding rockets during this same period. SONDA sounding rockets series a historical summary from NASA’s first sounding rockets Under military rule, the construction of launch vehicles started in Brazil. A couple of the prototypes of the Veículo Lançador de Satélites - VSL (Satellite Launcher Vehicle) get launched. They do not complete the missions due to technical problems. Diplomatic relations worsen in the South American region, which was already suffering from grim military dictatorships. This shows just the extent to which Brazil's R&D in launchers and satellites further complicated foreign relations. declassified U.S. foreign intelligence report in 1982 Likewise, Brazil’s two and only launch sites were also built under military rule. The (Barreira do Inferno Launch Center) was constructed in 1965 under the wing of the Estado-Maior da Aeronáutica - EMAer (Air Force General Staff). A typical site for launching sounding rockets, CLBI is located on the far northeastern coast of Brazil. The (Alcântara Launch Center) was built in 1982 in the historic city of Alcântara. This is the closest launch site to the Earth's equator. Centro de Lançamento da Barreira do Inferno - CLBI Centro Espacial de Alcântara - CLA Post-military years and under democratic leadership, INPE became part of the newly-created (Ministry of Science, Technology, and Innovation) in 1985. With INPE’s early leadership, more than a dozen satellites launched successfully since the 1990s. Brazil’s first satellite launch for Earth observation in 1993 was onboard a U.S. commercial small launch vehicle, the Pegasus Rocket. The rocket launched from a NASA B-52 aircraft. The remains in operation today to support weather forecasting, monitoring the water level of rivers and dams, and for other purposes. Ministério da Ciência, Tecnologia e Inovações - MCTI Satélite de Coleta de Dados 1 - SCD-1 (Data Collection Satellite 1) In 1994, the Brazilian government created a civilian branch for its space program, the Agência Espacial Brasileira - AEB (Brazilian Space Agency). With a change in discretionary authority and a different regulatory capacity, AEB works in tandem with INPE. It focuses on joint space technological development programs and . international space cooperation agreements The year 2003 was a sobering year for spaceflight in Brazil and across the world. Just several months after the , which killed all seven crew members during atmospheric re-entry, the at the Alcântara Launch Center days before launch. The explosion cost the lives of 21 personnel. STS-107 Columbia Space Shuttle disaster Brazilian VLS-1 VO3 exploded A brief survey of Brazilian space history reveals difficult periods.  Despite this past, the strengths of the Brazilian space program in satellites and international scientific space missions pave the way for the future. For example, INPE advances scientific research and development, especially concerning . Preparations are currently underway for the launch of the new . This launch is scheduled for 2021 from India. numerous small satellite missions Amazônia-1 satellite Space-minded entrepreneurs, like Lucas Fonseca, continue to invest in Brazil's space startup ecosystem. In conjunction with 11 startups, Airvantis is now part of the newly created (Alliance of Brazilian Space Startups). Launched in October 2020, this alliance has been set up in the city of Alcântara. The members wanted to pay tribute to the sacrifices made in the quest for space research, travel, and exploration. By leveraging the economic opportunities for Brazilian space startups in the domestic and global space markets, the alliance also wants to create a new chapter in the economic life of a former colonial town. Aliança das Startups Espaciais Brasileiras - ASB Some additional recent developments: - . The newly created (Mixed Parliamentary Front for the Brazilian Space Program) is composed of 186 deputies and 24 senators from across party lines. This parliamentary front emerges in Brazil to strengthen the cause and its support to its space industry. February 2020 Frente Parlamentar Mista para o Programa Espacial Brasileiro - FPMPEB - . Brazil and the United States enter a . This agreement seeks to encourage U.S. space companies to launch satellites from the Alcântara Launch Center. March 2019 Technology Safeguards Agreement - TSA - . The AEB signs an agreement to be part of the . November 2020 Global Spaceport Alliance Sound bites: Space Is A Positive-Sum Industry The modern space industry is not a zero-sum endeavor. It cannot be led by the government alone, the private sector, or just the dreams of startups. Space research, travel, and exploration are expensive. It takes . It also takes a village of people: space-minded entrepreneurs, advocates, government leaders, experts, artists, communicators, investors, and many others with a positive-sum mindset to scale up healthy space ecosystems. long-term thinking and sustained effort Brazil currently has at its fingertips competitive advantages. Tech unicorns are maturing and paving the way for new ones at one of the highest growth rates in the world. There’s already a colossal influx of venture capital funds for these startups that surpass the billions of dollars every year. Brazil's history shows us an established and veteran space program. It has powerful expertise and leadership in aviation and aeronautics. It has engineering and research programs ranked as the top in the world. This perfect mix may well renew enthusiasm at home and overseas to consolidate a vibrant Brazilian space startup ecosystem. New minds and fresh ideas can illuminate the way to Brazil’s new spacefaring future. I trust there’s a cadre of Brazilian entrepreneurs and investors like Lucas already looking forward to setting a steady course for space. The global space economy is growing at an accelerated rate. I hope that by giving visibility to the current space science efforts in Brazil, the space startup community leverages the momentum and energy already there for its tech unicorns. The payoff is out of this world. Brasil, eu aguardo ansiosa por seus sucessos futuros e espero que nos encontremos em breve no espaço... // (2017) at the top banner is by the prolific Brazilian artist Hugo Elias. Hugo was born and raised in Araraquara in the state of São Paulo. His work, under the name , is characterized by the unique and whimsical designs of his murals, designs, illustrations, and paintings. The inspiration for includes the rituals, music, and sacred geometry found in tribal indigenous customs in the Amazon jungle. I especially liked his subtle exploration of the passion for human spaceflight. Hugo shares my optimism for Brazil's future in the global space industry. The Traveler Ninjah The Traveler The song and video titled is also courtesy of the interdisciplinary artist, composer, and musician . Alexandre was born and raised in Brasília, Brazil’s federal capital. I selected this exquisite instrumental piece as part of my article because it invokes the often indistinguishable state between dreams and reality. A space-enthusiast as well, Alexandre often wonders about the complexity and unknowns of the cosmos. A composer for more than ten years, he also plays the piano in . Dormiveglia Alexandre Perotto Dormiveglia

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